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RURAL FUNDS GROUP — Capital/Financing Update 2016
Oct 9, 2016
65689_rns_2016-10-09_12d0a99b-9a5f-4176-84ea-44b45645eec2.pdf
Capital/Financing Update
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Rural Funds Group (RFF)
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10 October 2016
ASX Release
Subject: RFF acquires high security water entitlement
Rural Funds Management Limited (RFM), as responsible entity and manager for the Rural Funds Group (RFF), is pleased to advise it has contracted to acquire a 9,549 megalitre (ML) high security Murrumbidgee River water entitlement for approximately $34m.
RFM Managing Director David Bryant said: "this acquisition represents one of the largest ever sales of high security Murrumbidgee River water entitlements and will provide a cornerstone resource for future horticultural developments. In the interim, RFF will generate revenue from the sale of annual water allocations.”
The transaction is contracted to settle in December 2016 and will be funded from existing balance sheet capacity.
About Rural Funds Group (RFF)
RFF owns a diversified portfolio of high quality Australian agricultural assets. RFF’s investment objective is to generate a stable income stream derived from leasing its assets to suitable counterparts and capital growth through any appreciation in the value of those assets. RFF is a stapled security, incorporating Rural Funds Trust (ARSN 112 951 578) and RF Active (ARSN 168 740 805), trading under the ASX code ‘RFF’. Rural Funds Management Ltd (RFM) is the responsible entity of RFF.
| For further information: | For media enquiries: | For investor relations enquiries: |
|---|---|---|
| David Bryant | Stuart Waight | James Powell |
| Managing Director | Chief Operating Officer | Investor Relations & Distribution |
| Rural Funds Management | Rural Funds Management | Manager |
| T 02 6203 9703 | T 0419 126 689 | Rural Funds Management |
| E [email protected] | E [email protected] | T 0420 279 374 |
| E [email protected] |